Snowflake chairman and CEO Frank Slootman on leadership and the war against mediocrity February 23, 2022 "Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission," says Frank Slootman , chairman and CEO of Snowflake, one of . In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. That was career death for people, so it was just the least flattering place in the entire IT operation was backup and recovery based on tape, very logistically, intense. Anybody who's tried to run HP can talk about that because you have companies that have existed for whatever, 50, 100 years, you don't get rid of culture. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. But yeah, aptitude is really about, what are you innately good at? But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. What are your God-given talents? You hit a mark, you have to do two 360s. How Snowflake CEO Frank Slootman became a billionaire by ripping up the But it's a very, it's a country that has really no natural resources other than the natural gas that you mentioned, which they're pretty much run out of by now, so they've really leveraged their geographic location over the years. I need to know what that is. Yeah, there's no doubt. Snowflake, the cloud-based data-warehousing company, has been on fire in 2020, with veteran tech CEO Frank Slootman at the center of its success. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. Todays companies all want to achieve exponential growth and according to Frank Slootman, author of a new book for business leaders, every organization has the potential to scale to massive heights. Much like how he runs his companies, Slootman is always direct in his speeches. And it's very rare to create that kind of value. In May 2019, Frank Slootman, the retired former CEO of ServiceNow, joined Snowflake as its CEO and Michael Scarpelli, the former CFO of ServiceNow joined the company as CFO. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. When I in Ohio, I joined copy ware in Farmington Hills, Michigan, and I had not even been there a few month and they acquired a sizable company in Holland, a company called Uniface. But the essence of what I'm getting when I hire you is what you're innately good at. And if you've got a comment or a question if you'd like one of our experts to tackle on a future show, email us at. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. And a lot of people shy away from that because it's incredibly high anxiety to live in that world, but you want to suppress that reflex. So it's a very important question because if I hire you, I can get you experience every day at the week. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. Slootman applies this philosophy in the workplace as well. He cuts back where he sees fit. Open main menu Close main menu Home About Us Contact Us States Advanced Search You guys are a data company, you know as well, right? Welcome, Frank, inside the Ice House. One company that embodies this vision is ThoughtSpot, an analytics company. Snowflake Appoints Frank Slootman as Chairman and CEO I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. He knows what problems exist in his field today, and he knows how to address them as well. Over the past 20 years, as CEO of Data Domain and then ServiceNow and now Snowflake, Frank Slootman has generated extraordinary growth and success for each company and established himself as one of the world's top CEOs. Good sales people have a track record. Everybody has access to talent. We'll do something good with it. I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. When you get that sensation, you do need to leave because you're no longer the right person for that situation. If there were one person you could sit and learn from today, who would it be? I remember having a conversation with the CEO of a very large healthcare company. I mean, it gets rid of you. Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. You relate well to that way of thinking. Frank Slootman joins Jason for another incredible conversation that ranges from the management shift in Silicon Valley (1:08) to how to know if you're moving the dial in your organization (9:59). But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. Volumes have increased and they've pretty much more than doubled, and we've actually nearly tripled the number of participants that we have as well. Insurance companies historically have not been because they are data companies by their essence, right? I'm curious, how that opportunity at Data Domain came to you? IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. And everybody was like, "Who's Data Domain? Because that's what it is. Now, what that does the weaponizing, what that does is we block everything else out. It's just that there is a spirit here that always believes that it can do things that other countries don't believe about themselves. And it's like, "Well, why does that matter?" I'm the opposite. Slootman recently spoke at the CNBC. That's the point of it. I hate to break it to the audience, but that is the way that it is. But in the end, it's like we have to get into backup software in which we tried. Neither ICE nor its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the information and do not sponsor, approve, or endorse any of the content herein, all of which is presented solely for informational and educational purposes. Well, they knew now. And that went on literally for years, okay? Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? Sometimes that is hard for American audiences. And it's just, it's intoxicating that energy. It was sort of an adjunct to what they called the computer industry back then. And I've never been able to equal that level of success with a marketing slogan. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. None of that stuff is material to your mission. Read More 10 Things You Didnt Know About Paul StovellContinue. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Never seen the inside of an office or anything. Back then, there were hardly any software companies around. They always have a twinkle in their eye and they're going to do this, they're going to do that. Slootman moved to Silicon Valley in 1997. I use that expression a lot to say, "Look, data operations is going to become your core." Snowflake IPO: Everything you need to know | Fortune But you think that your upbringing in the Netherlands gave you a unique perspective on business and success, that's helped you throughout your career? But one of those issues was that taken over from a founder CEO was really, really hard. And it wasn't until the consent degree with IBM that really unbundled the software from hardware because software industry couldn't even happen because software was bundled. And that is a common thread through all our companies. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. It's just our nature to talk about problems." It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. Instacart Appoints Frank Slootman, Chairman And CEO Of Snowflake, To And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. But then, there's new platforms in terms of the Public Clouds, right? Well, the number one bit of advice I would have is make sure you're close to the drive train. In 2003, he became CEO of storage startup Data Domain, taking it public in 2007 and selling it to EMC in 2009 for $1.8 billion. One of the worst, worst in the English language for me. They sold the living hell out of that product. I'm trying to get into markets, not get out of them, but strategically we had a dilemma and others that we were, what I would call landlocked, maybe another nautical Dutch type of term, because we couldn't get beyond our core business of backup and recovery. In other words, swarm to it instead of distance yourself from it. Growth opportunities abound, but what many owners of startups may not realize is that choosing a bank with sector expertise to complement your business needs is more important than ever. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. Frank Slootman on Leadership and the War Against Mediocrity - ICONIQ It's very hard. Nothing herein constitutes an offer to sell, a solicitation of an offer to buy any security or a recommendation of any security or trading practice. I mean, without the foresight of having read Amp It Up, our listeners might assume that a jump from into software would take you really the rest of the way in your career from your start in Europe, to Indiana, the Midwest, all the way to California. Frank Lloyd Wright Home and Studio. It's up to 79% of the volume has gone cleared. The eight blocks of the street run from Broadway in the west to the East River in the east. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. From the library of the New York Stock Exchange, at the corner of Wall and Broad Streets in New York City, you're inside the ICE House, our podcast from Intercontinental Exchange on markets, leadership and vision in global business. The question is, what are you going to do? You got to catch people doing things the right way and then amplify that and praise it and reward it and so on because people are like pets and children. They also appreciate it. Meaning that we would run something like Tableau on top of Salesforce or whatever. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." Including his options, Slootman owns about 10% of Snowflake. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. In a few weeks, when the 2022 winter Olympics get underway in Beijing, I'll have my eyes peeled for 22-year-old, Jutta Leerdam, the reigning world speeds skating champion with over 800,000 followers on Instagram, who's proven herself a trend setter on and off the ice. The name was also fitting because a few years later, Snowflake burst onto the tech scene with a one of a time groundbreaking Cloud data warehouse product that revolutionized how companies could manage their data. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. It's always hard when you come in as a CEO and you have to follow a founder because the founder almost has mythical status in the organization. And you can't play chess pieces in a million different ways, right? And that's a whole different deal. That's awesome. And Mike, he takes on the end entire spectrum of controls and administration. Frank Lloyd Wright designed some 14 buildings for Japan: an embassy, a school, two hotels and a temporary hotel annex, a commercial-residential complex, a theater, an official residence for the prime minister and six private residences. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. It has certainly worked well for himself, for the companies hes worked under, the many investors that have poured money in his name, and so forth. But you dont achieve a $1.8 billion net worth by being a spendthrift. That is by then, we often refer to this as data enrichment because you can take incredibly mundane data and when you enrich it with data attributes from other sources, like for example, you guys did with ADP, all of a sudden data goes from mundane to high octane. welcome back! New competitors, new partner ecosystems, so it was like, "Wow, this is the future." 951 Chicago Ave., Oak Park, IL 60302. You could have a meeting in the hallway with the entire company. It doesn't matter how big we are, as long as we have a compelling mission that we want to get up for every day and swing for defenses and then, it's not hard. This is very much a country that believes things that other countries don't believe. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. The pandemic has. I mean, the problem with backup and recovery is, yeah, you can do backups, but the point of backup is recovery because if I can't find or read tapes, I'm still up the creek without a paddle. Whatever he learned from school is probably what we should all learn. Blackstone Announces Appointment of Frank Slootman, Chairman and CEO of Software was barely an industry. And that is our culture. right? Right? They did not try to carry technology or ways of thinking forward. The IPO was the third for Slootman, who moved to California for a job at Compuware in the dot-com boom, then worked at Borland Software. Most people just preside over culture. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. That is how you energize companies. They're kind of like whine and bitch all day. On stacking, all of a sudden, your boat left behind and you go like, "Oh, my God," so because it's very hard to get ahead on an upwind leg, right? Right? Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. But they do because the world is changing to digital and this is the essence of digital transformation. It becomes the beating heart of a modern enterprise. Now, you can be very obstinate about it and say, "Well, I'll eventually cross that bridge when I come to it," or you can try to anticipate it and say, "Okay, I'm going to find somebody who has the resources that I do not possess." And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join.